Nascar is big business and its biggest star is undoubtedly Dale Earnhardt, Jr. Dale Jr.’s contract is set to expire at the end of the 2007 season and he is now requesting a majority ownership in his father’s namesake company, DEI. DEI is run by his step-mother Teresa Earnhardt. Dale, Sr. may have left
Buying or Selling a Business: Asset Purchase or Stock Sale
Generally, the easiest way for a buyer to purchase a business is through an Asset Purchase Agreement. The buyer is not actually purchasing the business itself. One commentator has described it has buying the seller’s merchandise without buying the store.
Buyers tend to favor asset purchases for several reasons. First, the buyer obtains the
Selling or Buying a Business Legal Tips: Confidentiality Agreement
If you are selling your business you should not divulge trade secrets and confidential business information without a signed confidentiality agreement. The theft of trade secrets is an increasingly litigated issue. In the business sale context this often happens when negotiations break down and the potential buyer decides they can start their own business.
Forming an Advisory Board for Your Business
When forming small businesses I am sometimes asked whether the owner(s) must form a board of directors consisting of members from various backgrounds who are not actually owners of the business. While it may work in certain situations, I have not seen this model work real well for most small businesses. By their very nature
Insights Into Naming Your Small Business
Believe it or not, as a small business lawyer I have named more than my fair share of businesses for clients. (Maybe I should add that to the list of incorporation services). I always kind of laugh when I am asked for my opinion on the subject because I am not a marketing
Franchising v. Company-Owned
Today I had a discussion with another attorney about the the pros and cons of franchising. We determined that while many business owners may think they want to franchise, it is often not the best alternative for their business. If you are interested in the topic you may want to check out this article on
Document Retention Policy Basics
Iowa patent and information technology lawyer Brett Trout recently completed his series of posts on the new federal rules concerning electronic discovery. Brett and I also recently completed a podcast interview discussing the new electronic discovery rules. I encourage you to check it out. Brett has a lot of great information to share on
Right-to-Work in Iowa Does Not Mean “No Non-Compete”
The Iowa legislature is now considering amendments to Iowa’s right-to-work law. This is a hot button political issue – the merits of which I am not discussing in this blog post. What I am addressing is the confusion many people express over the Iowa right-to-work law. Many individuals confuse the law with the belief that
Presidential Hopeful Tom Vilsack to Serve as Visiting Professor at Drake Law School
Drake University Law School had some exciting news this morning. Former Governor and Presidential hopeful Tom Vilsack will serve as a visiting professor of law during the 2007 calendar year. Before his election as Governor, Vilsack practiced law in Mt. Pleasant, Iowa. He will teach a May interim course focusing on legal issues relating to
Iowa Business Law: Nothing New
I listened to an insightful podcast from Becky McCray of Small Biz Survival called Nothing New. She also quotes Dr. Samuel Johnson who once said, "People need to be reminded more often than they need to be instructed."
That is so true when it comes to helping businesses recognize legal issues. So often what